Taxi salvage value

Guidelines for determining taxi salvage values.

Typical values

Taxi salvage is determined differently from a personal vehicle. Several factors are considered to determine an accurate salvage value.

The salvage value generally ranges from $200 to $800. When calculating salvage value, a good starting figure is 10% of the net Actual Cash Value (ACV). The figure then increases or decreases according to valuation factors.

Salvage valuation factors

All the following factors must be considered when valuing the salvage:

wear and tear
mileage
colour, and
old damage.

Note: When the taxi is in exceptionally good or bad condition, salvage must be phoned directly for an accurate value.